S&P Global: Bitcoin Is Unlikely to be a Destructive…

“A market intelligence group has said that cryptocurrencies such as bitcoin are a long way off from being a destructive force in the financial sector” writes Rebecca Campbell for livebitcoinnews.com. In a research note published today S&P Global wrote that digital currencies were unlikely to have an impact despite increased public interest unless they are regulated, reports Business Tech.S&P Global believe that if bitcoin and other cryptocurrencies were backed by central banks, the banks would be in a better position to predict the demand for the coins.The cryptocurrency market may be a long way off from disrupting the financial sector, but it’s certainly moving at a pace that is attracting the attention of governments.Notably, compared to the digital currency’s market value of just under $500 billion, it remains a drop in the ocean.